BUYING real estate in España is cheaper than elsewhere throughout the EU.

As shown by the annual analysis on Spain’s realestate market conducted by Deloitte, the proportion of finance spent by households on mortgage payments – rate of effort – has been consitently falling in recent years and it currently stands at thirty 3 per cent, as a consequence of the decline in house values registered since the beginning of the recession.

Moreover, the standard home cost in Espana is 4.4 times the individual gross wage, compared to most various countries throughout the European Economic Community where the cost is on the average 6.1 times the individual gross wage and UK and France, whereby the quantity is 8.5 and 7.9 times the individual average earnings.

For the fourth year and compared to most of the country, property house owners in Barcelona and Guipuzcoa have had to pay an even bigger proportion of their earnings on mortgage payments, given the high cost of housing in those provinces.

On the opposite end, obtaining properties in La Rioja, Lleida and Pontevedra is easily obtainable, since the rate of effort is lower than thirty per cent.

The Spanish property market due to the rise in sales of residential properties grew by eight per cent in June 2014 in comparison to last year.

Sales stats just released from the National Statistics Institute, indicate that Spain has seen a year on year jump in property sales for four consecutive months, ending a ten month drought of year on year declines.

Valencia boasts the largest increase of housing sales per 100,000 residents, followed very closely by the Canary and Balearic Islands.

In addition, Madrid performs the highest, with a 30.4% increase. Extremadura, with 25.7%, and Navarra, at 19.3%, placed at 2nd and 3rd.

There has been large amount of property sold on the Costa del Sol this year. Putting this into perspective: there have been 4 New housing developments on the Costa in 2013 compared with none during the last 3 years. Potential developers have to stay grounded though, as 30% of recent homes on the Costa del Sol are yet to be sold.

An average 2 bed apartment on the Costa can go for €196,956, while a family home comes in at about €393,520.

Experts prediction is that the Spanish property market is should stabilise towards end of 2014.

A huge influx of tourists in 2014 is not only visibly noticable in Marbella but other areas of Andalucia also. Projections from experts predict approximately 10 billion euros will be created in 2014 in Andalucia meaning other councils are making improvements as well which is great news for the construction sector.

The influx of tourists to Marbella this year has made such an impact that the town has been added to a select list of areas that is allowed to open on Sundays, which is great news for the local residents and also for tourists.

The local elections are less than a year away now and one of the most eagerly anticipated projects in 2014 is due to start after the Summer in Estepona. The so-called Grand Boulevard is a massive project that will transform Estepona and it´s surrounding areas and will have a new shopping centre, additional tourism related attractions and a new recreational centre. This project has a large price tag of 30 million Euros however it is privately funded, in addition however the local council is financing a multi-millon euro botanical park due to be the biggest orchid collection in Europe.

In other areas on the Costa del Sol development of museums, tourist attractions, theatres, and infrastructure in Velez Malaga, Malaga City, Benalmádena, Mijas (old town), Rincón de la Victoria, Alharurin del Grande, Cartama and Fuengirola is due to start. All of the projects across all of these areas on the Costa del Sol should bring in many more tourists, but it will also boost the local economy and reduce unemployment considerably.

Studies has shown evidence that there has been a considerable increase in property prices between Marbella and Manilva. New off-plan developments have reached their rock bottom prices and are now showing a rise due to foreign demand.

2 areas in Spain are showing concrete signs of recovery, Costa Blanca and Costa del Sol. This study gathered information from sixty costal regions of Southern Spain and showed due to financial institutions lowering property prices that housing was now selling faster.

Things are still premature in respect of the Spanish construction industry but areas in the Costa del Sol and Costa Blanca are giving very positive signs. Developments in the Estepona and Marbella area, which have been built for the foreign market are building great interest.

The general view is that property prices are now slowing down but this only seems to be in some areas of Southern Spain where tourism is high. For example prices on the Costa del Sol have dropped to their lowest to about 1.1% in the first quarter of 2013 & 2014.

Predictions are that sales could increase as much as 25% this year in Marbella due to demand by foreign buyers.

The property market in Marbella is recovering and the town is now showing signs of being a leader in this sector. This emblematic town on the Costa del Sol ended last year with a total of 3,115 property sales , a figure which is similar to that of 2007, before the bubble burst. In terms of total figures, Marbella is now in a similar position to Malaga city, where the recovery in the property market has failed to take off and the number of sales has fallen for three consecutive years.

The results for property transactions last year, which have just been released by the Ministry of Development, reveal that Marbella is the Spanish town in which the number of sales has increased the most, by 23.6 per cent.

ALMOST one third of Spanish houses are on the market for less than €100,000.

The number of houses sold at that price or less over the past 12 months is even higher -around 64% – according to property site Globaliza.com.

The figure has surged from 2.9% before the onset of the economic crisis and ensuing collapse of the real estate market.

A staggering 68% of houses in Sevilla were sold for less than €100,000 in 2013.

The average property is a three room flat, 83 square meters in size, located in middle class areas of towns and cities.

These properties have lost around 48% of their market value over the past six years, and 7% of their 2007 values have been lost over the past 12 months.

The value of Housing in Malaga, meanwhile, has lost over half its value, 56%, since the property bubble burst. A total 16 percentage points of this decline has come in the past year.

A report by Technocasa found that factors affecting prices in Malaga are as simple as the availability of a lift in an apartment block; those with the facility are priced an average 12% higher than those without.

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